Institutional view: Excess pressure gradually emerges, lithium carbonate operates under pressure

Gold ten futures June 5th news, yesterday lithium carbonate futures 2407 contract fell 0.97% to 101,900 yuan/ton. In terms of spot prices, battery grade lithium carbonate fell 1100 yuan/ton to 103,800 yuan/ton, industrial grade lithium carbonate fell 1100 yuan/ton to 100,000 yuan/ton. On the supply side, domestic production is generally stable, while overseas resource imports are still expected to increase. At the same time, it is difficult for upstream lithium salt to support the price. It is reported that some long-term association prices are still loose. On the demand side, the growth rate of cathode material production has slowed down since May, and it is still not optimistic in 6 months-on-month. It is mainly purchased by rigid demand. The cash market is relatively deserted, and end point sales will slow down after being driven by price reduction promotions, trade-in policies, and auto shows. The pressure of lithium carbonate oversupply is gradually emerging, and prices may be under pressure. Pay attention to the June production schedule.